On the Issues
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ECONOMIC AND FISCAL POLICY 
Despite some recent positive indicators, our economy continues to struggle. Since January 2001, the United States has lost close to three million manufacturing jobs. Michigan 's unemployment rate is among the highest in the nation. Our country is also back into a very deep deficit ditch. To address these problems, Senator Levin supported an economic plan that would have created a million jobs in a fiscally responsible way, not one filled with rehashed trickle-down tax cut policies that have been tried and failed in the past. He supported tax relief aimed at middle and lower income families and small businesses, not wildly expensive tax cuts that would give huge breaks to those who need them the least. Under the plan Senator Levin favored, every working family of four would have received an immediate tax cut of $1,200, and businesses would have been allowed to write off more for equipment they put into service this year. The package the Senator supported would have allowed us to reduce our deficit while at the same time still fully funding priorities like education, Social Security, and the war on terrorism. Unfortunately, the President pushed through yet another huge tax cut as the supposed cure for our ailing economy. We should be digging out of the huge deficit ditch we now find ourselves in, not digging it deeper. Instead of tax cuts aimed at the wealthiest among us, we should be helping middle and lower income families make ends meet, extending expired unemployment insurance benefits, and providing more assistance to our states, who are facing their worst fiscal crises in over 50 years. Policies such as these would focus relief on those who need it the most and create jobs in a fiscally responsible way. |
Abusive Tax Shelters
Unlike legitimate tax shelters, abusive tax shelters are complex transactions that have no economic substance other than to provide individuals or corporations with large tax benefits unintended by the tax code. These illegal schemes enable tax cheats to evade paying their fair share while leaving honest taxpayers to make up the difference. more >
Closing Tax Loopholes
Congress needs to act to close down the tax loopholes being exploited by those seeking to avoid paying their fair share of taxes. more >
Earned Income Tax Credit
The earned income tax credit is a federal tax credit provided to working families with low to moderate incomes. more >
Economic and Fiscal Policy
Michigan's unemployment rate is among the highest in the nation. Our country is also back into a very deep deficit ditch. more >
LEGISLATION
COMMITTEES
TASK FORCES
